Comprehensive 2025 Internet Of Medical Things (IoMT) Market Overview: Trends, Forecasts, and Growth Drivers

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What Is the Expected CAGR for the Internet Of Medical Things (IoMT) Market Through 2025?
The market size of the Internet of Medical Things (IoMT) has seen a significant expansion in recent years. The market, which is expected to be valued at $79.64 billion in 2024, is projected to escalate to $97.73 billion in 2025, showcasing a compound annual growth rate (CAGR) of 22.7%. Factors such as an aging population, improved network connectivity, heightened investment in healthcare, and government initiatives have contributed to the growth during the historical period.

What's the Projected Size of the Global Internet Of Medical Things (IoMT) Market by 2029?
The market size of the Internet of Medical Things (IoMT) is projected to witness explosive growth in the upcoming years, reaching a value of $244.4 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 25.8%. This predicted rise during the forecast period can be ascribed to factors such as the deployment of 5G networks, growth of telemedicine, commonality of chronic diseases, rising popularity of wearable technology, and increased use of electronic health records. Key trends for the forecast period encompass remote surgeries, proactive healthcare, progress in healthcare technology, and the incorporation of Artificial Intelligence (AI) and Machine Learning (ML) in smart hospitals.

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Top Growth Drivers in the Internet Of Medical Things (IoMT) Industry: What's Accelerating the Market?
The expansion of the Internet of Medical Things (IoMT) market is anticipated to be driven by the growing utilization of connected medical devices. Such devices, able to interact and share data with other systems often via wireless technology, play an integral role in patient monitoring, diagnosis, and treatment. They allow for the effective use of IoMT technologies by enhancing real-time patient monitoring, streamlining data collection, and making healthcare delivery more efficient, resulting in better patient outcomes, reduced hospital stays and improved operational efficiency within healthcare systems. In December 2022, for example, the National Health Service in the UK revealed that X-rays were the most prevalent tests, with 21.8 million performed (a 30% increase), followed by ultrasound at 10.1 million (a 23% increase), CT scans at 6.7 million (a 21% increase), and MRI scans at 3.8 million (a 28% increase). These stats highlighted an overall increase in all imaging modalities, such as fluoroscopy by 23%, nuclear medicine by 22%, SPECT by 39%, PET-CT scans by 20%, and medical photography by 11%, reinforcing the role of connected medical devices in amplifying IoMT market growth. The growth of the Internet of Medical Things (IoMT) Market is also reliant on the rising acceptance of IoT devices. The concept of the Internet of Things (IoT) is based on physical objects or devices embedded with sensors and software, equipped with connectivity that enables data collection and exchange over the internet. In the healthcare context, the Internet of Medical Things (IoMT) encompasses these critical IoT devices, simplifying the process of gathering, transmitting, and analyzing health-related data for a plethora of medical and healthcare uses. For example, according to data provided by the GSM Association, a non-profit industry body based in the UK, the global number of IoT connections is projected to grow to 23.3 billion by 2025. This marks a significant jump from 15.1 billion connections registered in 2021, substantiating the principle that the escalating adoption of IoT devices is a driving force behind the growth of the Internet of Medical Things (IoMT) market.

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What Trends Will Shape the Internet Of Medical Things (IoMT) Market Through 2029 and Beyond?
In order to mitigate the prevalence of cardiovascular disease in India, major companies in the Internet of Medical Things (IOMT) market are strategically embracing cutting-edge solutions like AI-powered cath labs. These specialized healthcare facilities come equipped with enhanced imaging technology and artificial intelligence, bolstering the precision and efficiency of heart-related procedures by enabling real-time imaging parameter optimization and supporting less invasive interventions. Take for instance, the US-based medical technology firm, GE HealthCare Technologies, Inc. In September 2022, it unveiled its first AI-powered cath lab - the Optima IGS 320 - aimed at bolstering cardiac care in India. Constructed in a new Bengaluru factory under the Production Linked Incentive (PLI) scheme, this Cath lab integrates GE's unique AutoRight technology, powered by Edison, that fine-tunes imaging and dosage parameters in real-time. This breakthrough caters to the growing cardiovascular disease concern in India, particularly in younger populations, by enabling less invasive procedures. The Optima IGS 320 aids interventional cardiologists with smart imaging, enhancing precision and simplifying the overall process of procedures.

What Are the Main Segments in the Internet Of Medical Things (IoMT) Market?
The internet of medical things (IoMT) market covered in this report is segmented -

1) By Device Type: Wearable Devices, Stationary Devices, Implantable Devices, Other Devices
2) By Application: Data Assortment And Analysis, Real-Time Monitoring, Remote Medical Assistance, Tracking And Alerts, Other Applications
3) By End User: Healthcare Providers, Patients, Government Authorities, Other End Users

Subsegments:
1) By Wearable Devices: Smartwatches, Fitness Trackers, Health Monitoring Patches, Wearable ECG Monitors
2) By Stationary Devices: Smart Beds, Vital Sign Monitors, Connected Diagnostic Equipment, Telehealth Stations
3) By Implantable Devices: Pacemakers, Continuous Glucose Monitors, Neurostimulators, Drug Delivery Systems
4) By Other Devices: Home Health Monitoring Devices, Connected Inhalers, Medication Adherence Devices, Smart Thermometers

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Which Top Companies are Driving Growth in the Internet Of Medical Things (IoMT) Market?
Major companies operating in the internet of medical things (IoMT) market are Google LLC, Microsoft Corporation, Johnson & Johnson Services Inc., Siemens Healthineers AG, Roche Diagnostics Corporation, Cisco Systems Inc., Qualcomm Life Inc., Abbott Laboratories, Oracle Corporation, Honeywell International Inc., Medtronic PLC, Becton Dickinson and Company, Koninklijke Philips N.V., Stryker Corporation, GE HealthCare Technologies Inc., Boston Scientific Corporation, Zimmer Biomet Holdings Inc., Zebra Technologies Corp., Smith & Nephew PLC, Otsuka America Pharmaceutical Inc., ResMed Inc., AptarGroup Inc., DexCom Inc., Masimo Corporation, iRhythm Technologies Inc., Merative L.P., Capsule Technologies Inc., Owlet Baby Care Inc., AgaMatrix Inc., AliveCor.

Which Regions Will Dominate the Internet Of Medical Things (IoMT) Market Through 2029?
North America was the largest region in the internet of medical things (IoMT) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in internet of medical things (IoMT) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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